- Cardano breaks below the $0.66 support, with a possible drop to $0.60.
- ADA faces further decline as whale sales continue, reducing exposure.
- Retail interest in ADA rises despite bearish pressure from whales.
Cardano’s recent price action has confirmed the continuation of its bearish trend. As of October 17, 2025, ADA dropped below the critical support level of $0.66. This movement follows the general market weakness in cryptocurrencies, with Bitcoin and XRP also experiencing downward pressure.
In the past 24 hours, Cardano has lost over 6% of its value, trading at $0.62. Several technical indicators are suggesting further downside for Cardano.
A recent TradingView analysis noted that ADA’s failure to break above resistance at $0.74 earlier this week triggered a sharp drop. The price dipped below the $0.70 support on Wednesday, and the current loss of $0.66 sets the stage for a possible decline toward the $0.60 to $0.57 range in the coming days.
Whale Activity Continues to Weigh on ADA Price
Cardano faces pressure from significant whale activity. According to data from Santiment, large holders have sold approximately 40 million ADA in the past week. These sales were primarily made by addresses holding between 1 million and 10 million ADA, resulting in a noticeable reduction of their collective holdings.
This selling trend reflects the cautious sentiment among large investors, contributing to ADA’s recent price decline. While some retail traders are showing renewed interest in Cardano, indicated by a rise in the Chaikin Money Flow, whale selling has outpaced this positive move. The balance of market dynamics suggests that ADA’s recovery depends heavily on the shift in whale behavior, from selling to buying.
Outlook for Cardano: Bearish or Bullish?
Despite the current downturn, some analysts are cautiously optimistic about ADA’s future. If Cardano can reclaim the $0.66 support level, a short-term rally may occur, with potential price targets around $0.69 or $0.75.
However, the recent loss of support and the persistent selling pressure from whales raise concerns about ADA’s immediate recovery.
In the long term, if ADA maintains key levels above $0.50, it could begin forming a foundation for a possible bullish reversal. However, breaking below this support zone could lead to further losses, with the $0.30 mark as a potential downside target.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
